both sides use the bigger u.s. ball and south koreans wanted to use their smaller made ball. result, both side said no and the game was canceled. bernie: we have bigger balls is the the bottom line. warner: finally, i-man, bad news for nbc, stuck with televising saturday and sunday's final round of the match play championship. both tiger woods and rory mcelroy lost in yesterday's first round. imus: he well, the nbc television network according to dagen is already in fifth place, is it fifth place? >> fifth place in the february sweeps and key adult demographics behind in fourth place univision. imus: who is in third place? >> it was cbs fox, sbc, univision and nbc. imus: give me one through five. i didn't understand it. >> number one cbs number two fox. number three abc. number four, univision, number

five nbc. imus: thank you very much. "varney & company" is next. i accused delbert of ripping off bo didley with this. he said it was a tribute and i should shut up. ♪ here comes the weekend, honey, what's going on ♪ ♪ we can put our feet up, honey, or party all night long ♪ ♪ oh, baby, whatever, i'm with you ♪ ♪ are we staying home, are we going downtown ♪ ♪ are we dressing up, baby, or dressing down ♪ ♪ oh, whatever, baby, i'm with you ♪ ♪ you're my sunshine in the morning, you're my stars at

night ♪ ♪ you're all i ever dream about ♪ ♪ anything you want, now, baby, that's all right ♪ ♪ anything you don't, i can learn to live without and know that i'm with you till the sun stops burning ♪ ♪ i'm with you, till this world stops turning ♪ ♪ till the end of time ♪ ♪ oh, i'm with you ♪ ♪ imus in the morning ♪ >> yes, you're not imagining it, you're feeling the pinch. your paycheck is shrinking and gas bill rising and stuck

between paycheck and pump. good morning, everyone, solid numbers prove the point. the retailers say that we collectively are spending less. we're delaying big ticket buying, we're not eating out as much, but you've got to spend more to fill up the tank. gas is up again today. and this is something you've got to buy. every day you see the price going up as you walk down the street. drive down the street. so here is the question this friday morning, will we close up our wallets so much that america goes back to recession? good question. "varney & company" about to begin. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim

from td ameritrade. ♪ from td ameritrade. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.

>> the big story this friday morning, finally, someone asked president obama a question about gas prices, but we'll start with the price today. it's up again overnight. 3.78 for regular as of now. that's almost 60 cents higher than a month ago and remember, an economist told us earlier this week that for every penny gas goes up. it's like adding 1.2 billion

dollars in taxes a large chunk of the population already spending $4 for a gallon of gas. d.c. joins new york and california in a $4 club, illinois, connecticut are almost there. all right, now, that question to president obama, the answer to high gas prices is simple, he says, we need to use less oil. >> one thing that we're going to have to do is keep on making our overall economy use less oil. and we've got fewer oil imports now than we have in a very long time, but there's more work to do and unfortunately because of worldwide demand, oil prices are going to keep on going up and down until we put in place some of the energy saving proposals that i have talked about during the the state of the union. stuart: all right, a fairly simple answer from the president and energy policies, follow my policies and all will be well. remember, the price is doubled on his watch and billions wasted on green energy, little impact.

we've got more on that coming up on the show. here is what we've got now, across the board cuts go through maybe march 1st will we therefore sell off on the stock market. that's on the opening bell next. it's a new day. if your a man with low testostero, you should know that axiron is here. the only underarm treatment for low t.

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>> right before trading starts this friday morning, here is the the key question, if we go through with big time spending cuts on march the 1st, should you and i and everybody else sell our stocks? here is keith fitz-gerald, money guy from portland, oregon to answer the question. go. >> good morning, stuart, i don't think you should sell them in advance, but you should definitely be leary here, if the market earliest over there is a possibility. stuart: there's a chance that we go down if the spending cuts go in? >> i think there is, the reason is companies are squeezed and margins compressed and speculative money running for the border. that having been said a lot of companies put on sale. that's the case and sharpen your pencil and look to buy when that's done. >> stay right there. keith fitz-gerald. the bell is ringing and trading is about to start and look at this. we're expecting the dow to go up. maybe, 50, 60 points from the get-go this friday morning and

on varney's bounce back is not out of the question by any means and we're off and running and the opening trend is indeed ever so slightly higher. up 9 points and could get back to 13-9 in a couple of seconds and got to tell you about hewlett-packard. you know that stock's taking a huge beating lately. internal problems on top of the pc problem, nobody's buying them and profits are down and revenue is down and let me guess, nicole, i bet this morning, the stock is up. >> well, the stock sis up and looking good. meg whitman has been working on a huge turn around plan, up about 7% i see there. you know, this is supposed to be a five year plan and she continues to see more job cuts on the way and she's made it very clear that they will not be splitting and selling the company and while pc sales are slow, they have other businesses and services that are actually doing well. >> all right. good for meg whitman, nice to see it come back 7% on a friday morning. hold on a second, nicole, a

couple more big names to talk about, names you know. boeing, officials are expected to announce a plan today to fix the battery problems that are on the dreamliner fleet. and boeing hopes to win f.a.a. approval to resume passenger flights as early as mid march. boeing still at $76 a share, close to 77. of course, you remember aig. we've bailed them out big time in the financial crisis, but they paid us back with a profit. and it reports a loss in the last quarter. hurt by hurricane sandy, but here is the big one. results were better than expected so it's up almost 6% on aig. who would have thought? nicole, you've got another company that says higher gas prices and higher payroll taxes are hurting them. darden restaurants. why is the stock going up? >> right, well, they gave an outlook of sales growth of 6 to 7%, so, that's some good news, the fact that they're seeing growth is positive, but just like we heard from wal-mart this week about customers worried about payroll taxes, worried

about gasoline prices on the rise and if you're right in the wallet and are you going to red lobster, wal-mart and you just don't have the extra money to spend and that's what the concern is. >> we've got it it. thanks indeed. the dow industrials have indeed opened 60 points higher and back above 13-9. up 65 as we speak after two and a half minutes. i want to bring back keith fitz-gerald and bring in monica crowley also with us. first to monica. the president, i want to ask about the impact of higher fuel prices and these higher taxes. the president says gas prices are going up, okay. if you follow my green policy they'll go down and you'll save some money. what do you make of that. he actually said to us, said to the american people, use less oil. it's reminiscent of jimmy carter during that energy crisis telling people to put on a sweater rather than have it real effective and real energy-- >> i remember that speech. >> the president said when he

first came into office in january of 2009 set out to remake the main pillars of the u.s. economy, a major one being health care and another major one the health care sector and he's trying to subsidize the green energy companies and we've seen so many go belly up. the american taxpayer has been on the hook for this, but he's obsessed with remaking that and getting away from fossil fuels and poor hundreds of millions, billions, even though it cannot compete in the free market. he's willing to force feed that at the expense of the taxpayers. stuart: keith, we've got higher gas prices and taxes starting january the 1st. how much did that slow us down? here is the the real question, keith. i mean, this is a big impact, this thing. the higher taxes and gas prices, big impact. is it enough to create a recession in america? what's your judgment? >> yes, i think, for every $20

rise in oil prices there's a .0-- excuse me 0.4% drop in gdp so the possibility is very real. we've talked about consumer spending going down and i think it could potentially affect education and health care and if you've got bigger government. smaller wallets and bigger energy costs are certainly a smaller wallet. we're seeing that right now. >> i think it's the national federation of retailers reported as in the wall street journal this morning that 45% of us, have cut spending and 25% of us delayed a big ticket purchase and 33% of us eat out less. that's a serious takeout of consumer spending. would that affect your investment pattern, keith? would it turn you away from certain stocks? >> absolutely. it's going to turn me away and as you know for some time we've been away from some of the consumer discretionaries. you want to shift at times like this to what the world needs. regardless of what president obama thinks and i think he's dilutional, by the way, i think that you want to concentrate on what the world needs and energy is something that the world

needs. never mind what's happening here in the u.s. or the failed green stuff. i think you need medical tech. i think you need certain kinds of tech. cloud, cyber defense, all the things recently and investigators wise to look at that rather than what someone wants. stuart: wall street journal reporting that cuts that take effect on march the 1st, could take months or even years to have a real impact on the economy. here is what they say, i'm quoting directly. cuts likely to bleed slowly so the sky isn't falling. what do you make of that. >> right, all of the hysteria coming from the the president and from the left. stuart: it's blackmail. >> political blackmail, that's right, we've seen this movie before many times coming from the left. the point that needs to be made here, we use the word cuts freely, but this sequester is not actually cuts, this is just a slowing of the growth and a very slowing slowing of the growth of government spending. we're talking 3 cents on every dollar of federal spending,

stuart. this is nothing. this is a mere pittance, right? so, 85 billion and actually the government says we can't get the 85 billion in cuts or in the slowing of the growth this year so we're looking more the at 45 billion dollars in a slowing of growth this year. 45 billion out of a total budget of 3.5 trillion dollars? we're not talking about anything draconian here or drastic and by the way, the government has the ability to transfer funds, money is fungible, they can move the money around and you don't-- >> actually the obama administration will not allow transfer authority. >> it will not do it. they can do it, but they won't do it. stuart: they will not do it. this'll inflict maximum pain no matter what. >> that's right because they want the fight. it's not about policy, it's about the fight. stuart: thanks for being here in new york. keith fitz-gerald thanks for being with us out in portland, oregon where it's not raining apparently. thanks indeed all. and you could see this coming a mile off. a class action lawsuit against

carnival cruise line, passengers not happy with the no power, no bathroom cruise ship and here comes the suit. what a top attorney told us earlier this week. >> you want to sue us, you have injuries and only going to pay you for your actual injuries, and that's why you get $100 a day. if you don't like it, don't cruise. stuart: we have the lawyer filing the suit on behalf of the passengers in the next hour. 10:15 for the class action suit. the new york times is drinking the kool-aid calling for higher taxes for everyone, not just the so-called wealthy and surprise, surprise, it all comes down to fairness. my take on that at the top of the hour. now, i've got your seven early movers friday morning. more money out of aruba networks and charles talked about this last week in his making money segment. is that right? 24%. charles was talking about it. he's going to track that. and the new york times putting

the boston globe on the auction block for a second time and the new york times is up to $9 a share. disappointing forecast from the cheesecake factory. it is slightly higher. and better than expected profit report from heinz. everybody knows that name, the ketchup people going to warren buffett. and no change in the price of course. citigroup listens to its shareholders and overhauls executive pay, it's up. web. that would be web-- the stock ticker symbol, web m.d. took in more money than expected, it's up to 27% gain. not bad. higher profits, but a disappointing outlook from nordstrom. know that one well. down a little. check the big board, still up 63 points early this friday morning. time's money as we always say. 60 seconds worth of other stories that we do not want you to miss. i've said since the beginning of the so-called flu season that i would not get a flu shot. it's just a way for doctors to

make money and get me into their offices and now it turns out the flu shot was barely affected for people 65 and older. i'm almost there. dr. siegel joins us at the top of the hour. what will he have to say about that? some rich people will spare no expense to protect their homes from intruders or natural disaster. our correspondent on the rich will be here to show us what they're doing and how much it costs. and the tire chief, the tire company ceo, he blasted french workers, didn't back down. we'll tell you what he told fox business last night and get a racks from a french national who is also critical of her home country. all that. and please look at this. a piece of one of the most stunning and historic moments in sports. the u.s. hockey team's victory over the soviets 1980's olympics. mike, the pronunciation, mike

ahhuzoni. and the jersey, wool e'll tell how much for. and google glasses, they could be a game changer, the wave of the future. that's not the biggest product na google unveiled. clayton morris has more next. first, something completely different. with the oscars coming up this weekend we asked some chief executives, what movies inspired them like imax chief. which of these movies do you think inspired him? here are the choices, we'll have the answer after the break. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade r lets my account follow me online

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>> in honor of the academy awards, sunday.

we ask this question before the break, which movie inspired the ceo of imax and the answer in case the iconic music doesn't give it away. chariots of fire. and say the movie is running towards goals away from your demons and quote, definitely explains why i am so driven. there you have it. more of this kind of stuff coming up in the snow. sony inveiled a playstation 4. no release date and no pictures of the console even. and let's bring in the fox and friends host clayton morris and why was sony with the technology company. world leaders in bygone ages. >> is this going to bring it to the front rank again? >> no, this is the company to your point that steve job once heralded he wanted apple to be. >> did he. >> overtake sony, his dream to have the company like sony. we have fallen far afield. however, i never quit to write off a company and say they're going to die and make fantastic cameras and making a push into

the high end camera market and tv's are fantastic. but the playstation 4 is the spot where they can bring that attention back to sony again and i don't think this is it. and you mention, they didn't even show off the console the other night. >> why wouldn't you do that? it doesn't make any sense to me, imagine apple holding an iphone event and not showing you the iphone or the blackberry a few weeks ago, holding the blackberry 10 event and not showing you the blackberry, but it's all about the games, about the living room experience, no one cares what the black box looks like, is it the experience as compelling. i don't think that the playstation 4 what we know of it is compelling for me to spend 300, $00 to upgrade to a new console. >> that's dealt with sony, put them on the back burner for a second and move on to google and two developments there. number one, google is coming out with a touch laptop, right? and they're coming out of this thing, i think it's called google glass, like a pair of

spectacles, get these with your eyes. >> to me, you're mentioning two products the tale of google. two different companies, right here, google glass that lets you look through your glasses like you would. prescription glasses and i could say things like glasses, record my son, as running across the room. all of a sudden record that, date and time location, perhaps i could look at your face and instantly, without knowing your name, and facial recognition, noi that that's stuart, forgot your name. >> you're kidding me. these are the things that google has been talking about, and a promotional video that they release. you can do, we don't know if all of them work as good as they might given this video. this is exciting from google. >> $1500. not until 2014, it's innovation, it's exciting, and this could be the future. thewarable technology and the other google is in the laptop they rolled out yesterday.

t the chrome book, one of the most beautiful, it rivals the mac book from apple. however, the at $1300 no local storage, that means that i have to rely on the cloud. i have to be invested in the cloud, that means when i import photos, i have to put them all up on google servers and i don't get to keep anything locally. i can't use photo shop. can't use adobe light room. so for $1300 to be completely relying on the cloud doesn't make a lot of sense to me, plus, there's touch screen technology in the laptops, and you'll be touching the screen and nothing will be happening. it doesn't make a lot of sense to me for the price tag. >> the verdict in the last three minutes. sony, no, google touch screen, not great, but the glasses, gee, whiz, a winner. >> yeah, quite cool and you'll see me in the hallway wearing them. >> i might buy them. >> do you believe that, pretty cool when you can't remember my name, the glasses will help you. stuart: that's right, david.

no, sorry. you're right. time for the gold report. where are we this friday morning, back at 1600? no, we're not. 1574, down 4 bucks this morning. please, take a look at this. it's an andy warhol print of the unemployment trend in the 1980's. notice what happens. right around president reagan's second term. the jobless rate goes straight down. the print is hitting the auction block. we have it live. how much will it go for? can you imagine warhol doing an unemployment chart and it's worth money? [ male announcer ] i've seeincredib things.

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>> oh, ladies and gentlemen, i have made two mistakes, i'm about to show you what i first called a print. it's not a print, no. it is a warhol drawing, unique because it's on paper. look at that. item two of my mistakes, it is just the unemployment rate, the chart there of, in reagan's first term. okay? and it's dramatic. let's bring in amy with

christy's auctioning this off february 26th, i believe. lasts for a week. >> until march 5th. exactly, an on-line sale. stuart: now, i cannot believe that you can auction off a drawing, even though it's by warhol of an unemployment rate from ronald reagan and expect to get money for it, make your case. >> and it's between 20 and $30,000, i'm sure we'll get it and andy warhol loves popular culture and during the reagan years, it was part of the popular-- >> it's the reagan years and artist. >> and you can look at it today and andy was making this contemporary to his time. stuart: this is the only one of it. >> the only one. stuart: only one of an unemployment rate that i know of. >> that i know of as well. it's timeless in its own way. stuart: why would-- 20 to $30,000 for an

unemployment chart? >> right. i can think of a lot of people who would find this comical and interesting, and pressient and true. stuart: if i created this, i could, would be worthless. >> it would. stuart: the auction lasts for a week. >> live on february 26th, stays live for a week and closed on march 5th. stuart: why do you spend a week on this. >> on-line sales are a different format and reach the world. it's not necessarily in real time. and being able to sort of bring out different marketing moments in that week is also very important to drum up interest and get the world engaged. >> i just wonder how much i've increased or decreased the value of that chart? you wouldn't call it a chart, would you? no, it's a unique warhol. >> i'll cut you on the upside. stuart: excellent, amy come back

anytime. thank you so much. >> thank you. stuart: all right, the new york times is indeed drinking the kool-aid. wait until you hear what the top of that editorial page today. here is the hint, the title, why taxes have to go up. that and another jam packed hour of "varney & company" is just ahead for you. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. serious investors are choosing fidelity. now get 200 free trades when you open an account.

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speewun the economy is weak and the debt keeps growing? the new york times states is position this morning. it is in full agreement when the obama administration may have written the obama policy. to reduce the deficit in the weak economy, new taxes on high-income americans are a matter of necessity and fairness. that is the direct opposite of president reagan's policy, and the republican thinking. battle lines are drawn. tax more, tax less, keep spending, cut spending. it seems we have lost sight of what we need more than anything else which is robust economic growth. if we had a four or 5% expansion we would get a grip on the deficit. instead we settle for a new normal. at best 2% growth, near and bennett 8% unemployment and out of control debt. not good enough.

welcome to renew our of "varney and company". more on the tax manifesto moment but first you are spending less because you are bringing home less money. shrinking paycheck because of the payroll tax increase and a rising price of gas. troubling stats from the national retail federation, less take-home pay means 25% are spending less. 25% of you are delaying big-ticket purchases and a third of us are cutting back on eating out. one fifth buying less groceries. not good sign for economic growth. we will talk about it. this friday morning, we are up, the dow is up 30, 13,900 is where we are and back by popular demand our friday morning company. liz is here, charles is here and

nicole petallides on the floor of the stock exchange. i mentioned at the top of the hour the new york times is in full agreement with the president raising taxes on rich and for everyone. to reduce the deficit in a weak economy new taxes on high-income americans are matter of necessity and fairness. the paper says taxes need to go on the middle-class. let's start with you. charles: don't know where to start. this is despicable stuff. they said as the economy strengthens, the amazing assumption that somehow we are going to tax job creators and successful people, demonize them, brutalize them and somehow the economy is going to strengthen. is going to get worse. we can see what will happen with this but the gist of the story is they're trying to let everyone know you are going to get hit, everyone gets hit to create this utopian socialist wonderful world we have to live

in. stuart: isn't it fair to tax the rich? liz: they don't define fairness. that is why the new york times readership is down because the new york times does not give the information from the cbo and the irs who is paying their fair share, the top 20% of income tax payers the two thirds of federal income-tax. they have a steeply progressive tax code already, even the oecd says very progressive tax code and they don't talk about the death of the incurious minds of the new york times listed they want to know why reader should is the outlook in the mirror. they don't talk about out of control spending. stuart: a last word. charles: we should go out and ask everyone let's start at 100% what we make being taxed and come down. where does america think fair? [talking over each other] stuart: how many times on this program. charles: and then go down. stuart: what is fair? how many tons of west democrats

what is fair? charles: they never use any of these stories, that these people have earned -- magic word is an -- [talking over each other] liz: didn't start life on third street. they fought and work hard. hard to believe the new york times fail to recognize america was founded to avoid high taxation and record government spending in your home country of britain. stuart: let's get to nicole petallides, hewlett-packard beaten up all over the place recently but not now. stock is up. nicole: no. one in the dow, cases up 8%, it is adding on 10 positive dow points, they come out with numbers. meg whitman has a turnaround plan for the company that has had changing management and there you go, nice first quarter results that topped analysts' estimates. profits be revenue, a beat sales guidance. stuart: what more do you want? come on.

let's take it. thank you very much indeed. you know, looks like dr. siegel owes me an apology. the cdc says that the flu shot is proving less effective for older people. do you remember this? >> it works about 60% of the time, probably more. stuart: 60% of the time? that is it? come on! >> probably more this year. more than 70% or 80%. stuart: probably? come on! >> we won't know for sure until april. what else do you have? stuart: we won't know for sure until april? come on. come on, dr.. dr. mark siegel, come on. people 65 or older, flat out hardly works. >> i am being ambushed here. you did not even tell me to prepare for this. luckily i read the entire review

from the cdc and was quoted on it yesterday in the newspaper so i am prepared for this question. you are ambushing me. you are leaving out the fact that it turns out the vaccine is about 60% or 65% successful as predicted. the problem is in elderly people. the reason is because people like you and older don't have the kind of immune system they need and we should be giving two shots. i never said, given this is a tough business show, i never said we shouldn't be investing in actually approving the flu vaccine and getting something that works more substantially. it is why i don't believe in mandatory. vaccine for health-care workers. the vaccine we have needs a lot of improvement. one more point. stuart: oh please. >> it should be given to everyone around an elderly person which will help prevent the flu getting to the elderly person because it doesn't work as well in the elderly.

stuart: you are very defensive. >> you will use this bite on another. stuart: believe me. next story, federal agents raided the scooter store headquarters in texas. there are allegations the company is forcing doctors to prescribe the scooters. that is on the show right now. they have been rated. charles: this is a horrendous. this scooter store apparently has been accused of bilking medicare, overbilling $108 million over a three year period and this brings up a larger point you and i totally agree on which is what our doctors doing in the middle of this? the scooter store is making a list of doctors they can con into prescribing scooters or motorized wheelchair that are not needed? liz: a story with medicare money going out the door so rapidly, sort of like how jobless benefits are zoomed into this direct a pause. >> talking about overspending

spending twice as much as any industrialized health-care. one of the reasons, doctors are busy signing. [talking over each other] >> you can get a new motorized wheelchair every two years. they won't pager repair it. how about repairing the broken one? stuart: we are in agreement on this one if not the flu shot. thank you very much. appreciate it. take a look at this photo. this is a truly historic moment in sports. i remember it. the u.s. hockey team victory over the soviet union in 1980, the olympics. at 10:35 this morning, we have the jersey from the player who scored, going up for auction and you will absolutely not believe how much it is going to sell for. won't believe it. then we have abercrombie and fitch. they are down and down big. i want to know what. nicole: the outlook for abercrombie is not too hot and as a result you see stock selling off. when you said down big we see it down 5% today at $46.69.

we are talking about sales not being good enough, the number one loser in the s&p 500. hollister's one of the brands under the umbrella, europe is weekend holiday sales not as good as they hoped. would you let it get? stuart: charles seeing something in his little computer thing not going right. charles: i have got to say it. stuart: save it. trying to give me a flu shot. the rich spending more money, a lot of money on home security, protecting their homes not only from intruders but natural and man-made disasters as well. i will bring in canvas jackson from the wall street journal mentioned report. if you don't read it you should. the mansion report comes out every friday. is a big special section and candace rights for it. am i right? it is a special section. >> weekly section. stuart: you are it. are you not? what do rich people, what are they doing to protect themselves? how much are they spending?

>> this is one of the most interesting things happening in home building and no one knows about or talk about which is sort of a point and people are spending millions of dollars to secure their homes. essentially you have got some very wealthy people who are building basically bunker style homes, homes that can withstand anything from a nuclear bomb to a dirty bomb to category 5 hurricane. stuart: the whole house is a refuge. >> in some cases. in other cases they're building the normal house and a bunker below ground that might be 10,000 square feet where they could escape. stuart: 10,000 square foot bunker. that is gigantic. >> very comfortably of the too. stuart: like hours? >> in some very extreme examples they're putting stops and movie theaters down there, not just bottled water and spam. it is comfort. stuart: wealthy people are that afraid of terrorists or natural

disasters or earthquakes? [talking over each other] charles: 1,000 years or every year. stuart: i am not that afraid. are you? charles: i have water in garage. [talking over each other] >> where are they building this? >> wealthy people as you know have multiple homes and the one they will outfit sort of the most bunker like will be in the middle of the country. aspen house or a house in the dakotas somewhere in land where they see possible refuge. stuart: you are talking about some very wealthy people. >> i am talking extreme end. stuart: bring it down to earth. ordinary americans, though no one to classify them but people with a lot less money than that. are they doing something similar? >> smaller scale yes, people are more aware these days about storms and terrorism and all that. why build it? liz: jeff flock charles payne's house. charles: some network is running this stuff every day where

people are afraid and orting things and 15-year-old kids learning how to shoot. [talking over each other] charles: my wife watches this network and it is amazing, regular ordinary people ready for armageddon. stuart: we are talking about these care in america of disaster and apparently it is really prevalent. i don't feel it quite frankly. i do have a very expensive generator. >> that is very common and that has become basically standard for everybody to have a generator which is a great idea because we are having a crazy about the power outages and storms and things like that. that is a common-sense thing to have. liz: what else is becoming more common? >> storm proveing is something everybody's thinking about what the were in the middle of the country thinking of tornadoes or on the coast thinking about hurricanes. people are really rethinking windows and walls and even if they don't live in south florida building to florida hurricane code in other parts of the country. stuart: global warming terrifies us all. terrific stuff. we love your column in the wall

street journal match section. some of us aspiring mansion and owners -- thank you very much indeed. we had a lawyer sit on this set and say the passengers aboard the carnival cruise ship that was a drift in the gulf have no case, do not suit, he said. next, the lawyer who not only disagrees but is representing passengers in a class-action suit but first comma here is one thing you missed if you did not join us at 9:20. it is all about the game. about the living room experience. no one cares what the black box really looks like. is it the experience is compelling and i don't think the playstation iv is compelling for me to spend $400 to upgrade to a new council.

stuart: hewlett-packard, remember them? beaten up and battered, and now it is reported that profit and sales are down in the first quarter but look at that. restock is up 8%. come back time for h p. and garden restaurants, owners of the olive garden and red lobster, high gas prices and high payroll taxes are hurting their bottom line but they still expect sales growth so the stock is up 2%. the winter storm that walloped central plains is winding down but the midwest is still getting hit with a foot of snow in some places. businesses in some places close,

the northeast isn't in the clear entirely. winter mix of snow and rain headed here this weekend. the wall lawyer who is heading a class-action lawsuit against carnival. does he have a place? [ male announcer ] how can power conmption in china,

impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one rean over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses o read and consider carefully before investing. stuart: passengers who were stranded on that carnival cruise line are indeed now filing a class action suit. do they have a case?

listen to this. >> when you buy your ticket like any other contract, says in black and white you want to sue us for emotional distress. forget about it. you want to sue us, do general italy or this important in florida, you want to sue us you better have real injuries and we will only pay you for your actual injuries and that is why you payless than $100 a day. and you don't like it don't cruise. stuart: our next guest totally disagrees. he is representing the passengers in this class action suit. his name is mike winkleman and he joins us from florida. you heard the attorney on this program earlier saying you want to sue for emotional distress haven't got a case, no way you will be able to do that and you have got to show real injuries to get any money out of it. yet you are filing a suit. what is your ground? >> good morning, your producers were nice enough to send me the

clip of the criminal defense attorney with his opinions regarding this unique maritime claim and while i appreciate his opinion mine certainly do diverge from that. my law firm since 1971 has been representing cruise ship passengers and workers who have been heard because of the major cruise line's negligence. we are confident and comfortable with the position we are in. the class action lawsuit was filed on monday. there are benefits and the united states law and we are we going to do our best to make a maximum recovery which can. stuart: was a negligent? a you say in carnival was negligent? if so do you not have to show that they knew there was a mechanical problem with the ship and did nothing about it? >> yes. we are not only suing for negligence the gross negligence and for what we consider to be intentional conduct. do we have to prove that they knew or should have known? yes. the stories we have heard word that there were multiple prior cruises with the same or similar issues that were going on so they knew there were problems

going on and to get into the intentional conduct boils down to the decision instead of turning around go to mexico to drag these passengers across the gulf of mexico four five days. stuart: the jurisdiction under which you are suing in south florida. is that right? >> correct. stuart: when you can use all normal american legal tactics to press your suit and it is up class-action suit to. how many passengers are you representing at the moment? >> presently it is an ever-growing number, several hundred or so. we are only a week out and i have spoken with a number of lawyers who represent the number of people that are interested in joining the class. interested to see a week from now or a month ago where we are in terms of numbers but you make an interesting point about the benefits of u.s. law. if you compare it to the cost the concord dagen: my firm representing number of them. we are here because it touch u.s. court, you have to sue in miami, florida and that is where we come in.

stuart: i have a problem with some class action suits because it is settled in favor of the plaintiff, a cross-section they often get a discount coupons on a future airline flight or future crews and the lawyers, you are the guys who take the cash. are you going to assure me that under no circumstances will the same thing happen this time? >> i will 100% assure you. i take a lot of pride as does my term in doing the right thing for people. in those cases sort of unique what they call coupons elements, the 2005 class-action fairness act and a lot of people have misconceptions about class-action that generally attorneys have a lower fee than they normally would but to answer your question i give you my 100% assurance i will take the best care for each and every passenger harm on that cruise. stuart: mike winkleman, appreciate you being with us.

my take on president obama's failed energy policy is next, but first, there is this. we ask top ceos which movie inspired the most? which one of these movies talked qualcomm's chief executive officer paul jacobs to not taking too seriously? monty python and the holy grail, animal house, blazing saddles? the answer is next.

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stuart: before the break we asked which movie inspired paul jacobs to be not too series, one of my favorites, monty python and the holy grail. jacobs says, quote, i was always a smart kid. monty python taught me not to be too serious. have you ever heard of that? liz: i love it. i watched it three times. stuart: you? charles: i heard of it. my answers affects cool hand luke. stuart: monty python rules. you have a well-deserved victory lap because last week you recommended aruba networks. look at this. before they reported last night "after the bell," stocks of 20%, it was up 29%.

last week i said would have a potential to be huge. lot of people e-mail me not to take profits. you make 29% in one week -- stuart: you recommended it last week, well before the move. the big move is today. charles: the last weekend i read a negative article about bring your own device. i got a little nervous. stuart: if we had a sound track with applause we would play it right now. hold on. remember this? and american ceo calls french workers lazy, overpaid, refused to obama tire plant in france, gets attacked for it? sometimes the truth hurts and we will hear about that truth from a french national and an economist, she is ready to blast her home country. that will be 10:45 this morning. president obama told a cbs tv

station in south carolina that his policies are saving consumers money at the pump. he said better gas mileage from new cars and more drilling would get gas prices down. we need to use less oil, he said. so here's my take. here is my rant. the president's energy policy is a dismal failure. just look what has happened. the price of gas has doubled. those precious green energy projects have wasted billions of tax dollars and had very little impact despite 30 years of subsidies, wind and solar provide less than 4% of our electricity and the chevy volt, the great green hope of the bailout general motors is a dud. that is the last four years. looked at the present. keystone pipeline still has not that is a slap in the face to canada and means continued dependence on foreign governments which frankly hate

us. large scale fracking is being deliberately delayed. we do not like those fossil fuels even when we own them. we like green so much that president obama is doubling down on green failure with another $12 billion worth of subsidies. just think what we are missing. under our own feet, there are hundreds of billions of barrels of oil, our oil. there is an untold amount of natural gas. we are the saudi arabia of gas and if we went and got it do you realize what riches we would unlock? thousands of jobs, well-paid jobs without a dime of taxpayer expense. what we are missing is an energy that economic boom. we do not need to condemn an entire generation of people to government dependence but that is what we're doing. we do not need to act like failed europe. we need to go get what is ours. click walling in climate change build. stand up and be americans again.

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why wait? hear today what a little lyric can do for you. get the hearing aid that can. lyric from phonak. lyric can. stuart: scott, if those automatic budget cuts go into effect march 1st you think it is time to sell stocks. >> no. there will probably be an adverse reaction but it will be media related.

i like to throw in a farm term now and again. it is not a sequestration. the government has to see this as castration. it is $22 billion. is less than a quarter of 1% of gdp. we can handle it. stuart: the president says the sky is falling and people get laid off left, right and center, catastrophe, disaster. >> it is

charles: couple weeks ago you said you like groupon. let's take a bath to a crocodile, you have been absolutely right. congratulations. made a huge move. stuart: isn't that nice? >> a warm hug from here. stuart: thank you very much. 33 years ago today the united states celebrated what has become known as the miracle on ice. 1980 winter olympics lake placid, n.y. the u.s. ice hockey team beat the soviet union and went on to defeat finland for the gold medal. the team captain's gear is being auctioned this weekend in new york. chris ivy which heritage auctions joins us now. welcome. let's put it on the camera. this is the jersey that he wore when he scored the winning goal against the soviets. is that correct? >> he was the team captain and scored the winning goal.

stuart: this is unique? [talking over each other] >> for the olympics, a blue one and a white one. stuart: you are telling me that you think this jersey is going to go for $1 million? >> $1 million plus. we have seen comparables. the canadian version they beat the soviet team in 1972 in what is known as the summit series. paul henderson scored the winning goal in 2010 his jersey sold in the canadian action for $1.75 million. stuart: i understand it was are remarkable light and in sports history but $1 million for jersey? >> was voted by sports illustrated the most significance for a moment of the 20th century and one of those moments we all knew where we are. stuart: we do? okay. never been washed. >> has. when he brought it home, he had it dry cleaned once and put it in the attic and it has been sitting there ever since.

when he saw the canadian jersey sulphur over $1 million he thought i better do that. he quickly cleaned it once after the olympics. stuart: why is he selling out? because the canadian jersey got a million? >> he went to the olympic games to win his gold medal and got his gold medal and is never going to sell at but as we like to say he has three children, two jerseys, no way to split that up so he will help out his cheri and his children. stuart: the auction starts tomorrow night? >> it is on my right now through heritage auction. people can go on line and sign up and participate. stuart: what is the price now? >> $425,000. stuart: when you think will go up by 6 and did thousand dollars by tomorrow night? >> 90% of the bidding takes place in the last 48 hours a lot of the lots are sitting 30 to 50% of where we think it will end a. stuart: will be an american who buys it? >> we have a lot of interest from asia, dubai and russian

interests. stuart: why would they be interested in that? >> who knows? i hope it stays in the u.s.. stuart: do you think this is an appreciating asset that will go up in value? if it goes up will it be worth much more than that? liz: he is not putting his gold medal. [talking over each other] more than $1 billion. >> babe ruth's jersey sold last year, the only gold medal from this miracle on ice belonged to a player named mark welsh which sold at auction in 2010 for $300,000. stuart: you make your point. i am astonished $1 million -- charles: it would be worth more if he didn't watch it. >> it would deal little fresh. liz: worth more than elvis's shirt he wore at the last concert? >> there has been a lot of elvis material out there. this is 1-of-a-kind.

stuart: if he haven't watched it he would have his dna on it. good luck with the auction and we are pleased to see you that it might go for $1 million. that is extraordinary. the american ceo who called french workers lazy and overpaid. he is not backing down. french national, an economist joins us after the break, we get her reaction to this. >> seven hours a day and they work about three hours and the other 3 is like a beauty shop. they're socializing.

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stuart: google unveiled its latest touchscreen laptop, google is marketing a laptop as a premium device and the price shows that, $1,300, clayton morris said he is not impressed google's stock is close to $800 a share. nevada beat new jersey to the punch by becoming the first state in the nation to legalize online gambling. the law allows the ladder to partner with other states though its presidents compatible their money away too. stepping away from the business world, magistrate in south africa granted bail to the double amputee olympian oscar pistorius accused of murdering his girlfriend on valentine's day. he was ordered to hand over his passport, bail set at $113,000. coming up an american criticized

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stuart: hewlett-packard. i will call this a horse race. where's the stock now? nicole: hewlett-packard is the number one performer in the dow jones industrials, they give a good outlook, we know they're working on cutting stocks, meredith whitman is the turnaround queen where they have everything. all eggs in the basket and almost 11%. that is a huge move for what was

the number one ladder on the dow jones industrials last year. this morning i heard you on don imus talking about how healthy you are and juicing is great and i agree and i too juice this morning, apples and strawberries and banana and i came to work and that at crumb cupcake. it had chocolate chips, graham cracker and marshmallow. want to know how much it cost? it cost $3.95 antiques mores cupcake is a mere 490 calories and as you know i'll lead the tops. stuart: the producer was in my year for the last comment. nicole: i only eat the frosting and should and gramm cracker and marshmallow. stuart: when you cancel out all the good news from the juices morning by eating the topping and sugar. nicole: i eat everything i can

get. stuart: i don't mind. nicole: we try to be as healthy as you but some of us fail. stuart: thank you very much. dow is up 60. sixty points at $13.99. charles is going to make money with the beauty supply store. what is the full name of the stock? charles: i got to tell you when it comes to retail it is all about the shopping experience. i have never been inside but i am awed by this place, to the clinton thousand square feet. sally's is 1500, 4500, this company has done an amazing job. the ceo quit almost abruptly. the cfo 5 months ago. that is a rare flag on wall street but here is the thing just rubin left to go to the company called michael's arts and crafts twice as big and this guy is a hired gun. team a $11 million in 2010 in

the top 20. he went for the money. i don't think was an indictment against this company. in the meantime you have a fragmented industry, whole bunch of beauty salons and its beauty supply stores, they are going to have a model that is not unlike a model of the revolutionized video game retails for others. i love this stock, i love the company. the yellow flag when the cfo and ceo leave but created an amazing opportunity. anyone that has been there tells me it is amazing. stuart: 10,000 square feet? what is this? charles: typical store. [talking over each other] charles: from the outside you are odd. fragmented industry $100 billion, $41 billion for is a long and fifty-one billion for the beauty supply, emerging them is a great idea and an amazing company. stuart: i will not forget that. got to go see it, thanks very much. charles: around 17. stuart: around 17. now to tighten international chief executive officer maurice taylor writing a scathing letter

criticizing the french for their work ethic. here is mr. taylor talking with gerri willis last night. >> the s and p rate is 16% to 20% and what is behind in answer to your question, you walk in, they get an hour for their lunch and breaks, that is paid, seven hours in the day, then they work about three hours and then the other three is like a beauty shop, they're socializing. the reason being they would like you, the union thinks you should hire more people. that is the union's mentality and did is also part of a french government. stuart: pretty good slam if you ask me. let's bring in the senior research fellow at the markus center. you have been on a program

before. do you think maurice taylor is speaking the truth? >> there's a lot of truth in what he is saying. i don't know whether calling french workers lazy is exactly accurate. they are certainly entitled and he is right in his list what they feel in title to like short days, six weeks mandatory vacation and all of this paid for by employers. the drama of all this is this wouldn't happen and he is right, the unions are behind this, enforced by the government who passed those crazy laws where you don't have to work as much. stuart: charles payne is with me and he has done some research -- maurice taylor was going to have a look at it and see if he wanted to take over. give me some stats on the plant.

charles: good year ran this plan, sprawling, 54 years old, has the capacity to do six billion units a year last year 1.3 million units. in the fourth quarter, seventy-four million dollars, last year the loss $230 million and in this plant alone they can't do it anymore, they can't do it anymore, all because of the things we talk about on this show every single day. stuart: come back into this. i want to know what was the reaction in france when mr. taylor's letter was released and published. >> it was mixed. a lot of people who were cheering saying finally someone is speaking the truth to this government, who enforces the laws and these high wages in exchange for very little work. there are people who are obviously upset by the terms that he used. i do think what is really significant is the way the minister responded to him. instead of actually saying something like france has a history of being good at

producing tires and things like this he fired back with a letter talking about how the americans, they owe gratitude to the french because of the help that lafayette provided. and then he actually went on to actually almost not very hidden threats of harassment and you think the french are hoping a foreigner is going to take this plant over? this is not the way i would go about it. stuart: a pleasure to have you here in america. we do hope you stay in this wonderful country. >> i have become an american. stuart: you are one of us. a pleasure, thank you very much. we hope you will come back and see us again soon. back in just one moment. r final. this is for real this time. step seven point two one two. rify and lock.

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stuart: remember bell, calif. the town that was ruined by mismanaggment? the former mayor of the place says he was too uneducated to know that his six figure salary was illegal. what do you say about that? liz: led the raid to bankruptcy in california, these guys making

for the.5 the medium in, as if the bezants -- residents of bell, calif.. if your viewers are not upset about this they should. he is saying he is a victim, the city should have told him he should not have taken that corrupt government pay. stuart: got that out all right. it is a big weekend for our hollywood elite, oscar's sunday night but on "varney and company" we are all about money so we asked new york stock exchange ceo duncan neiderauer what his favorite movie is and the answer is one of these bill murray films. three choices. groundhog day, ghostbusters, caddy shack. what is duncan neiderauer's favor? the answer in a moment.

♪ stuart: we have the new york